Bajaj Electricals Posts Rs 11-crore Net Profit

Posted: Tuesday, Jun 15, 2004 at 0000 hrs IST
Updated: Tuesday, Jun 15, 2004 at 0000 hrs IST

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Mumbai, June 14: Bajaj Electricals has turned into the black with a net profit of Rs 11.36 crore for 2003-04 as against a loss of Rs 9.8 crore for the earlier fiscal.

The revenue from operations stood higher at Rs 503 crore for the reporting year as against Rs 433 crore in 2002-03, showing a growth of 16 per cent.

Bajaj Electricals continued with its broad-ranging transformation process that started in FY 2002-03.

The company has also completed a smooth transition of operating under the new strategic business units structure.

The directors have recommended a dividend after a gap of two years of 10 per cent on the enhanced capital after the rights issue.

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